c_harmons | Indy Week

Member since Jun 17, 2007



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Re: “Financing growth

Bob, The problem I see with an impact fee is that it raises the value of all property. For example, if one house is built in Wake County for $100,000, and then one month later (after the impact fee is added) an exact same house is built next door for $100,000 plus the impact fee of say $10,000, both houses will sell for in the marketplace for the same amount. But the person who didn't have to pay the fee just makes more. It is the nature of the free economy. You raise the cost of housing and all housing goes up. People sell their house for as much as they can. They might decide to not ask as much to move their house quicker, but they realize some gain, that is for sure.

Posted by c_harmons on 06/17/2007 at 6:19 PM

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